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• The Dow Jones Industrial Average .DJI rose 110.59 points, or 0.43 percent, to 25,669.32, the S&P 500 .SPX gained 9.44 points, or 0.33 percent, to 2,850.13 and the Nasdaq Composite .IXIC added 9.81 points, or 0.13 percent, to 7,816.33.
U.S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners China and Mexico.
• Chinese and U.S. negotiators are planning talks to resolve their trade row ahead of meetings in November, the Wall Street Journal reported on Friday. Additionally, Mexico’s economy minister, Ildefonso Guajardo, said he hopes to wrap up outstanding bilateral issues on the North American Free Trade Agreement (NAFTA) by the middle of next week.
• Asia markets mostly rose Monday morning, following a higher finish on Wall Street last Friday after a report said President Donald Trump and Chinese leader Xi Jinping may meet in November over escalating U.S.-China trade tensions.
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Japan's Nikkei 225 was near flat at 22,260.67 in early trade while the Topix was down 0.06 percent at 1,696.5. In South Korea, the Kospi traded up at 0.41 percent.
• U.S. and China officials are reportedly working on a plan to hold talks to end a trade dispute between the two countries that would result in meetings between Trump and Xi at a summit in November, according to the Wall Street Journal.
• A nine-member delegation from Beijing will hold meetings with U.S. officials on Aug. 22 and Aug. 23, the report said, citing officials from both countries. On Thursday, the two governments announced lower-level trade talks later this month aimed at resolving their escalating tariff war.
The news that the U.S. and China were reportedly drawing up plans to settle the ongoing trade dispute gave markets some reprieve, according to commentators.
Reference: Reuters, CNBC
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